Amendment of Act 30 of 2003

Amendment of Act 30 of 2003.—In the Kerala Ceiling on Government Guarantees Act, 2003 (30 of 2003) for section 3, the following section shall be substituted, namely:— “3. Ceiling on Government Guarantees.—The total outstanding Government Guarantees as on the first day of April of any year shall not exceed 100 percent of the total revenue receipts as per the annual financial statement of the State in the preceding year or 10 percent of the Gross State Domestic Product

1. (GSDP) for the respective financial year, whichever is lower.”.